Malmö based technology company Lime Technologies has announced they hav acquired 85% of the Malmö based startup SportAdmin, run by SportAdmin i Skandinavien AB. This enhances Lime’s portfolio in customer management systems within the sports club sector.
SportAdmin, a SaaS startup, has shown impressive growth, catering to over 1,500 clubs with nearly a million members. The acquisition, valued at approximately € 13 million (149 million SEK), aligns with Lime’s strategy to focus on specific industries and marks a significant step in expanding its presence in member organization management. The synergy between the two companies is expected to foster continued growth and international expansion.
“We are delighted to become part of Lime. We have known each other for a long time and feel that our culture, values and priorities are remarkably similar. By adding Lime’s experience and knowledge of sales, marketing and product development, we are creating the conditions for a continued growth journey, and I see great potential in being involved in driving the development forward together,”
says Henrik Lehmann, CEO and founder of SportAdmin
SportAdmin is reported to have grown considerably with an average growth rate of 31 % over the last three years. The estimated turnover for 2023 is SEK 46 million and the estimated EBITDA margin is 17 %. The acquisition of SportAdmin will contribute to an increase in recurring revenue as a proportion of total revenue for the Lime Group.
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Originally published on Øresund Startups : Original article